Never Underdressed will be edited by Carrie Tyler and published by Lucy Alexander. Both were formerly at Elle. Photograph: PR/Shortlist Media

Shortlist Media is to launch a digital fashion and beauty title for women, dubbed Never Underdressed, available on smartphones and tablet computers.

The free title will compete with market leaders Elle, Vogue and Marie Claire in the busy women's glossy market when it launches in May.

Never Underdressed is the first UK launch from Stylist owner, Shortlist Media, since the Shortlist spin-off Mr Hyde email in October 2012. Industry sources expect the launch to cost Shortlist Media between £2m and £3m.

Carrie Tyler, the former digital director of Elle, will lead a 14-strong editorial team at the new title, and Lucy Alexander, the ex-digital ad director of Elle, will be its publisher.

Alexander said: "Never Underdressed is a beautiful, glossy, luxury fashion title for the digital era. We are thrilled to bring a range of innovative, immersive new advertising formats that extend across desktop, tablet and mobile and allow brands to deliver consistent, high-impact campaigns across all platforms simultaneously."

Shortlist Media, founded and run by former IPC Media editorial director Mike Soutar in 2007, will launch a French edition of Stylist in print later this month. Its flagship Shortlist had a free print circulation of 531,733 in the six months to December 2012, according to the latest Audit Bureau of Circulations figures – up from 462,731 five years ago.

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